WOTSO will open a fourth flexspace in New Zealand after buying a large site with development potential in the regional city of Whangarei, capital of Northland.
CEO Jessie Glew says New Zealand is playing an important role in WOTSO’s expansion strategy.
“The New Zealand market remains largely underserviced by flexible workspace providers, particularly in suburban and regional areas where demand for agile community-focused workspaces is growing,” she says.
Glew has deep family connections to Whangarei, which is 160km north of Auckland and services a district population of more than 100,000 people.
She knows the region well and says it has great potential with a diversified economy and good growth prospects.
“There’s definitely demand for flexspace in Whangarei,” Glew says. “We believe the city has a positive long-term future underpinned by significant investments in regional road, rail and port infrastructure by the New Zealand government.”
WOTSO bought the 2,124sqm property, anchored by a modern office building and close to the CBD, for $NZ3.7 million in January with settlement expected in May.
“It’s perfect for us,” says Glew. “The building occupies only 30 per cent of the site, so it will make an excellent flexspace now and represents a good redevelopment opportunity in future.”
The property was originally a car sales yard repurposed by vendor Donovan Group, one of New Zealand’s biggest engineering companies. Donovan Group commented on WOTSO’s investment, saying, “It’s great to see international companies investing in regional NZ and the future growth prospects these regions offer. Donovan Group wish them all the best in their future endeavours.”
“They did a great did a great fit-out of the building, which we will enhance and adapt with a mix of offices and coworking space,” Glew says.
“We are drawing up plans now and believe the building will comfortably accommodate approximately 120 desks across the 600 sqm space.”
WOTSO Whangarei will also feature meeting rooms, a well-appointed communal kitchen, reception, shared office facilities, virtual office services and business grade internet.
Whangarei will be WOTSO’s first New Zealand flexspace outside Auckland, where it is already operating sites at Takapuna and Belmont with a third opening at Te Toangaroa in June.
WOTSO now has 27 operating flexspace sites across Australia and New Zealand with four new workspaces opening over the next five months, bringing its network to 31 locations.
The new sites are Melbourne CBD (late March), Jamisontown in western Sydney (early April), Whangarei (June) and Te Toangaroa (June).
